Register
Find the amount of annuity. Amount of each deposit:$6200 Deposited: semiannually Rate per year: 6% Number of years:5 Type of annuity: ordinary
146k views
1 vote
Find the amount of annuity.

Amount of each deposit:$6200
Deposited: semiannually
Rate per year: 6%
Number of years:5
Type of annuity: ordinary

User Lytze
by
8.1k points

1 Answer

6 votes
6,200×(((1+0.06÷2)^(2×5)
−1)÷(0.06÷2))
=71,076.05
User Jim Arnold
by
8.4k points
← Prev Question Next Question →

Related questions

User Chamakits
asked Aug 23, 2023 97.6k views
How long will it take for $4700 compounded semiannually at anannual rate of 1.5% to amount to $6200?
Chamakits asked Aug 23, 2023
by Chamakits
8.6k points
1 answer
1 vote
97.6k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!